HKUST Annual Report 2023-2024

25 HKUST Annual Report 2023-2024 Activating IP Management The University once again achieved pace-setting IP and licensing outcomes. The year saw a historic high 261 invention disclosures received, 416 and 385 IP filed and granted, and 90 new IP utilized. By June 2024, 585 patents had been set to work out of a total of 1,894 owned by HKUST Clear Water Bay campus (31%). Nearly one-third of HKUST’s patents have been utilized by third parties, a proportion in line with top global research institutions. HKUST achieved a record 199 active license agreements, resulting in an IP income of HK$11.7 million. Together with over 900 industry collaborators, the University ranked as a top scorer in the Times Higher Education (THE)’s 2024 industry index, adding to the No.1 in China under Nature Index’s patent influence metric (2022) and No.2 in China for DeepTech unicorn incubation capabilities by New Fortune magazine (2022). In addition, we have now aligned our IP policy with the laws and regulations of both the HKSAR and the Mainland as HKUST expands knowledge transfer activities to both jurisdictions. Incubating DeepTech Start-Ups and Potential Unicorns A record of 116 DeepTech HKUST start-ups are now actively utilizing and commercializing University technologies. To extend such achievements, we fortified our entrepreneurship pipeline by establishing the HKUST Redbird Innovation Fund. The HK$500 million initiative seeks to create multiple Venture Investment Funds to the value of HK$2 billion in collaboration with investment partners to drive forward high-potential HKUST DeepTech start-ups. Funding will cover early-stage to scaling-up phases of novel enterprises in areas of focus, such as AI, semiconductors and robotics, new materials, energy and sustainability, and biomedical and healthcare. Additionally, the HKUST Entrepreneurship Fund (E-Fund), launched in 2019, received a further HK$50 million in capital as it entered its second phase in 2023-24. The new funding brings the total to HK$100 million. The E-Fund expedites University start-ups toward growth and market launch through pre-A, seed, or angel support. Since launch, it has reviewed more than 200 HKUST companies and approved 21 start-up investments. A record 199 Active License Agreements generating IP income of HK$ 11.7M A new high of 116 DeepTech Start-ups utilizing HKUST technologies 31% patents owned by HKUST Clear Water Bay campus utilized (585 among 1,894 patents)

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